I have significant profit in 8 shipping stocks. Most of them ‘clean’ fuel tankers. $ASC $STNG $DHT $SFL $INSW $ COOL $GLNG $ZIM
Trades entered between August and Oct 2023, additional shares added in January. Profit percentages range from 24% to 79%. All of them pay a solid dividend, 5-9%. A very overlooked sector. But it looks like the party might be over.
Momentum is slowing in all but two. Volume is down significantly over past 10 days. All but two have been red 3/4 days this week.
I sold 100% of $ASC this morning, which was the 79% gain, after it dropped 7% in two days. Two others go ex dividend today. I’m planning on waiting 1-2 hours after the open tomorrow. If the rest are still red, I’m going to pull out my entire initial investment, plus 1/2 the profit from the 4 that are north of 50%. The other 3 I’ll bail completely.
With the exception of miners, #SPUT, $JEPI, QQQ, the shipping stocks comprised the rest of my equity portfolio and 50%+ of the fiat balance. I’ll be down to about a 10% equity allocation if I follow thru.
long weekend coming up always a chance for the rug pull
I have significant profit in 8 shipping stocks. Most of them ‘clean’ fuel tankers. $ASC $STNG $DHT $SFL $INSW $ COOL $GLNG $ZIM
Trades entered between August and Oct 2023, additional shares added in January. Profit percentages range from 24% to 79%. All of them pay a solid dividend, 5-9%. A very overlooked sector. But it looks like the party might be over.
Momentum is slowing in all but two. Volume is down significantly over past 10 days. All but two have been red 3/4 days this week.
I sold 100% of $ASC this morning, which was the 79% gain, after it dropped 7% in two days. Two others go ex dividend today. I’m planning on waiting 1-2 hours after the open tomorrow. If the rest are still red, I’m going to pull out my entire initial investment, plus 1/2 the profit from the 4 that are north of 50%. The other 3 I’ll bail completely.
With the exception of miners, #SPUT, $JEPI, QQQ, the shipping stocks comprised the rest of my equity portfolio and 50%+ of the fiat balance. I’ll be down to about a 10% equity allocation if I follow thru.
Bad moon rising is what I think.